Migrant Nepalis often send money to their family, friends, and other beneficiaries, like local schools or charities. This ‘remittance’ amounts to roughly a quarter of Nepal’s annual GDP and is crucial in sustaining the country’s economy. Economists and politicians must analyse its effects on consumption and investment patterns.
Remittances have become a lifeline for Nepal. Estimated at 11 billion dollars in 2023, their volume surpasses the combined inflow of official development assistance and foreign direct investment. This structural income stream must be managed, and strategies must be developed to foster long-term economic development.
